Zhongyuan High-speed (600020) (Fig)

The company is the only one listed highway enterprises in Henan province, whether from the location of the road network or the support of large shareholder investment group, have obvious advantages, and Henan Transportation Investment Group Co., Ltd. become the company's largest shareholder in the future of the company in the province for the extension of development. The company currently has 6 projects under construction, the total investment of 15.5 billion yuan, financing, financial pressure and new sections of profitability become the main constraints on the company's future performance. Diversified investment involves real estate, venture capital and trust, although it has not reached the full harvest stage, but has shown some development results. Zheng Luo high-speed and Luo in the completion of high-speed expansion, the company "two Road one bridge" traffic flow and toll revenue will maintain a relatively stable growth, Zhengyao high-speed will become the company's growth in all sections of the bright spot. The completion of the three projects under construction at the end of 2010 will have a certain impact on the 2011 performance, while the company's expansion in real estate, venture capital and trust will be a beneficial complement to future performance. We expect the company 2010 and 2011 Annual operating income of 2.284 billion yuan and 2.672 billion yuan respectively, the year-on-year growth of 10% and 17% respectively, the net profit is 599 million yuan and 428 million yuan respectively, the year-on-year growth of 34.75% and-28.57% Earnings per share of 0.28 yuan and 0.2 yuan respectively. Recently the stock short-term bottom characteristic is more obvious, the future proposal appropriate attention.